Today, Apple announced the new Apple Watch Series 1 starting at $269. That's $30 less than the recently-dropped price on the previous-generation Apple Watch. The entry-level smartwatch in Apple's lineup features the new S2 dual-core chip with integrated GPU – the same chip found in the Apple Watch Series 2 – which is 2x faster than the original Apple Watch.

Apple will begin taking preorders beginning on September 9, with availability slated for the following week.